Danske Bank’s Boost to Energy-Efficient Homes
As the world shifts towards a more sustainable future, Danske Bank has taken a significant step in promoting energy-efficient homes. The bank has updated its affordability calculation for mortgage customers, offering increased borrowing for Energy Performance Certificate (EPC) A to C rated properties.
A Boost to Energy-Efficient Homes
The improvements include a reduced energy bill assumption when assessing the income and outgoings of customers purchasing a property with an EPC rating of A to C. This enables the bank to give an increased maximum lending offer to those buying more energy-efficient homes.
Image: Energy-efficient homes are becoming increasingly popular
For instance, a single applicant earning £60,000 with no dependants looking to borrow on an A to C rated property could now borrow up to £290,000, compared with £266,164 previously.
A Positive Change
Patrick Mullan, head of mortgage distribution at Danske Bank UK, said: “In response to valuable feedback from customers and the brokers that we work with, we’re delighted to now reflect lower energy costs in the affordability assessment for customers purchasing A to C rated properties – meaning we can lend more to those buying more energy-efficient homes.”
Chris Martin, head of sustainability at Danske Bank UK, added: “This is a really positive change that makes energy-efficient homes more accessible for customers, helps them reduce their impact on the environment, and benefit from lower energy bills.”
Chris Martin, head of sustainability at Danske Bank UK
This move by Danske Bank is a significant step towards promoting sustainable living and reducing our carbon footprint. As we move towards a more environmentally conscious future, it’s essential that financial institutions take proactive steps to support eco-friendly initiatives.
Energy efficiency is crucial for a sustainable future
In conclusion, Danske Bank’s updated affordability calculation is a welcome change that will make energy-efficient homes more accessible to customers. As we strive towards a greener future, it’s essential that we continue to innovate and adapt to the changing needs of our planet.
Sustainable living is the key to a better future
